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The Impact of the COVID-19 Outbreak on Social Costs of Tourism to the Sri Lankan Economy

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The Impact of the COVID-19 Outbreak on Social Costs of Tourism to the Sri Lankan Economy


C L De Silva | Prof. D A C S De Silva



C L De Silva | Prof. D A C S De Silva "The Impact of the COVID-19 Outbreak on Social Costs of Tourism to the Sri Lankan Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1, December 2020, pp.103-107, URL: https://www.ijtsrd.com/papers/ijtsrd35839.pdf

The number of confirmed COVID-19 cases has risen rapidly, first in the PRC, and recently globally, pointing out the multiple channels that affect the economy and quantifying potential impact scenarios. On several channels, the COVID 19 epidemic impacts economic activity in Sri Lanka, the rest of developing Asia, and the world. These include a rapid but temporary decline in domestic consumption in Sri Lanka and other emerging economies, and potential investment affects the outlook on potential industry activities. However, the business-related tourism and travel failures spilled over lower demand in other sectors and economies through trade and production links; supply interruptions; This study estimated the WTP for individuals during a pandemic outbreak to reduce tourism risk in three Sri Lankan cities. The demand curves and social costs of tourism were contrasted in three cities by implementing the DCCVM method, and WTP values were generated. Second, residents of tourist attractions were observed by WTP to reduce the adverse impact of tourism on their communities after the COVID-19 pandemic. It was a new approach, and their interests are still ignored, although people's role in tourism studies and practice has been recognized. Our research indicates that most individuals would compensate for reducing risk and action in response to the pandemic and that there was no significant difference in the WTP in the three cities. Second, era, salaries, and tourism employment have greatly affected citizens' WTP. The willingness of younger people to pay more for risk avoidance was one impressive outcome.

COVID-19 Outbreak, Social Costs, Tourism, The Sri Lankan Economy


IJTSRD35839
Volume-5 | Issue-1, December 2020
103-107
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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